RiverNorth Flexible Municipal Income Fund (NYSEARCA:RFM) Stock Price Up 0.1% – What’s Next?

Shares of RiverNorth Flexible Municipal Income Fund, Inc. (NYSEARCA:RFM) rose 0.1% during mid-day trading on Monday . The stock traded as high as $15.28 and last traded at $14.96. Approximately 49,776 shares changed hands during trading, an increase of 174% from the average daily volume of 18,160 shares. The stock had previously closed at $14.95.

RiverNorth Flexible Municipal Income Fund Stock Up 0.1 %

The stock has a 50-day simple moving average of $15.36 and a 200 day simple moving average of $15.65.

RiverNorth Flexible Municipal Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.094 dividend. This represents a $1.13 dividend on an annualized basis and a dividend yield of 7.54%. The ex-dividend date of this dividend is Friday, March 14th.

Hedge Funds Weigh In On RiverNorth Flexible Municipal Income Fund

A number of hedge funds have recently made changes to their positions in the stock. Logan Stone Capital LLC lifted its holdings in RiverNorth Flexible Municipal Income Fund by 522.4% during the 4th quarter. Logan Stone Capital LLC now owns 76,483 shares of the company’s stock worth $1,137,000 after buying an additional 64,195 shares in the last quarter. Wolverine Asset Management LLC increased its holdings in RiverNorth Flexible Municipal Income Fund by 118.4% during the 4th quarter. Wolverine Asset Management LLC now owns 103,215 shares of the company’s stock worth $1,535,000 after purchasing an additional 55,952 shares during the period. Virtu Financial LLC acquired a new stake in RiverNorth Flexible Municipal Income Fund in the 4th quarter valued at about $385,000. Wells Fargo & Company MN grew its position in shares of RiverNorth Flexible Municipal Income Fund by 13.8% during the fourth quarter. Wells Fargo & Company MN now owns 160,257 shares of the company’s stock worth $2,383,000 after buying an additional 19,486 shares in the last quarter. Finally, Apollon Wealth Management LLC purchased a new stake in shares of RiverNorth Flexible Municipal Income Fund during the fourth quarter worth approximately $208,000.

RiverNorth Flexible Municipal Income Fund Company Profile

The RiverNorth Flexible Municipal Income Fund, Inc seeks to provide current income exempt from regular U.S. federal income taxes1 with a secondary objective of total return.